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BGF Emerging Markets Local Currency Bond Fund

Overview

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
View full table
  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

13.02 14.82 -12.04 11.11 1.74
Benchmark (%)

as of Dec 31, 2020

9.98 16.17 -6.07 12.93 2.19
  1Y 3Y 5Y 10y Incept.
1.74 -0.19 5.23 -0.56 -0.18
Benchmark (%)

as of Dec 31, 2020

2.19 2.73 6.73 0.28 0.85
  YTD 1m 3M 1Y 3Y 5Y 10y Incept.
1.74 4.20 10.72 1.74 -0.57 29.03 -5.50 -2.23
Benchmark (%)

as of Dec 31, 2020

2.19 3.50 9.68 2.19 8.40 38.50 2.85 11.01
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Size of Fund (Millions) as of Jan 21, 2021 USD 2,492.248
12m Trailing Yield as of Dec 31, 2020 4.08
Number of Holdings as of Dec 31, 2020 152
Base Currency U.S. Dollar
Fund Inception Date Jun 26, 1997
Share Class Inception Date Sep 22, 2008
Asset Class -
Morningstar Category Global Emerging Markets Bond - Local Currency
Benchmark Index JP Morgan GBI-EM Global Diversified Index in HKD
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Ongoing Charge 1.28%
ISIN LU0388349754
Bloomberg Ticker BGFLEA3
Annual Management Fee 1.00%
Initial Charge 5.00%
Performance Fee 0.00%
SEDOL B3DBV52
Bloomberg Benchmark Ticker ELMIPLHKD
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Minimum Initial Investment HKD 5000
Minimum Subsequent Investment -
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Yield to Worst as of Dec 31, 2020 5.12%
Modified Duration as of Dec 31, 2020 5.87 yrs
Effective Duration as of Dec 31, 2020 5.79 yrs
Weighted Avg Maturity as of Dec 31, 2020 8.02 yrs
3y Volatility - Benchmark as of Dec 31, 2020 12.55
3y Beta as of Dec 31, 2020 1.185
5y Volatility - Benchmark as of Dec 31, 2020 11.86
5y Beta as of Dec 31, 2020 1.124
WAL to Worst as of Dec 31, 2020 8.02 yrs

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Jan 7, 2021 BBB
MSCI ESG Quality Score (0-10) as of Jan 7, 2021 4.58
MSCI ESG Quality Score - Peer Percentile as of Jan 7, 2021 65.42
MSCI ESG % Coverage as of Jan 7, 2021 99.33
Fund Lipper Global Classification as of Jan 7, 2021 Bond Emerging Markets Global LC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 7, 2021 367.42
Funds in Peer Group as of Jan 7, 2021 240
All data is from MSCI ESG Fund Ratings as of Jan 7, 2021, based on holdings as of Aug 31, 2020. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Dec 31, 2020
Name Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2023 2.89
SOUTH AFRICA (REPUBLIC OF) 10.5 12/21/2026 2.29
BRAZIL FEDERATIVE REPUBLIC OF 10 01/01/2025 2.28
BRAZIL FEDERATIVE REPUBLIC OF (GOV 0 07/01/2023 2.08
BRAZIL FEDERATIVE REPUBLIC OF (GO 10 01/01/2027 2.05
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 3.13 11/21/2029 1.95
PERU (REPUBLIC OF) 6.35 08/12/2028 1.70
BRAZIL (FEDERATIVE REPUBLIC OF) 0 07/01/2022 1.70
MEXICO (UNITED MEXICAN STATES) 7.5 06/03/2027 1.60
SOUTH AFRICA (REPUBLIC OF) 8 01/31/2030 1.53
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Dec 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Dec 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Dec 31, 2020

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Investor Class Currency Distribution Frequency NAV NAV Amount Change NAV % Change 52wk High 52wk Low Bid Price ISIN Offer Price TIS
A3 HKD Monthly 30.03 0.08 0.27 31.05 24.14 - LU0388349754 - -
C2 USD Accumulating 21.34 0.05 0.23 21.72 16.73 - LU0278476923 - -
A1 EUR Daily 3.16 -0.01 -0.32 3.62 2.86 - LU0278461065 - -
A2 Hgd EUR Accumulating 7.83 0.02 0.26 7.97 6.16 - LU0359002093 - -
I5 EUR Quarterly 7.86 -0.03 -0.38 9.05 7.07 - LU0995350831 - -
Class I3 Hedged GBP Monthly 6.70 0.01 0.15 7.05 5.44 - LU0995336418 - -
Class S3 Hedged GBP Monthly 10.12 0.02 0.20 10.64 8.21 - LU1911699996 - -
Class AI5 EUR Quarterly 9.42 -0.03 -0.32 10.84 8.47 - LU1960220660 - -
D2 Hgd CHF Accumulating 9.21 0.03 0.33 9.37 7.21 - LU1688375184 - -
X2 Hgd GBP Accumulating 10.53 0.02 0.19 10.70 8.17 - LU1505939139 - -
A2 CHF Accumulating 22.51 -0.10 -0.44 24.47 19.35 - LU0938162186 - -
X2 AUD Accumulating 9.95 -0.01 -0.10 11.22 9.75 - LU1554267051 - -
A2 Hgd SGD Accumulating 8.77 0.02 0.23 8.92 6.83 - LU0358998713 - -
I2 EUR Accumulating 22.41 -0.07 -0.31 24.48 19.45 - LU1559746307 - -
A1 USD Daily 3.84 0.01 0.26 3.96 3.09 - LU0278477574 - -
D2 CHF Accumulating 24.04 -0.11 -0.46 26.02 20.58 - LU1065150267 - -
A8 Hgd AUD Monthly 6.69 0.02 0.30 7.13 5.49 - LU1133072774 - -
D2 USD Accumulating 27.15 0.07 0.26 27.61 20.97 - LU0383940458 - -
D3 Hgd GBP Monthly 6.68 0.02 0.30 7.02 5.42 - LU0995345831 - -
I5 USD Quarterly 9.55 0.02 0.21 9.87 7.63 - LU1495982867 - -
X2 GBP Accumulating 5.62 -0.03 -0.53 5.80 4.95 - LU1688375267 - -
D2 Hgd EUR Accumulating 8.05 0.02 0.25 8.18 6.30 - LU0622213642 - -
A2 Hgd SEK Accumulating 93.06 0.22 0.24 94.63 73.09 - LU1715605868 - -
A4 USD Annual 15.56 0.04 0.26 16.10 12.65 - LU0548402170 - -
A6 Hgd SGD Monthly 7.58 0.02 0.26 8.09 6.25 - LU1676225185 - -
Class E5 Hedged EUR Quarterly 6.28 0.01 0.16 6.63 5.09 - LU1062843260 - -
I2 GBP - 19.84 -0.07 -0.35 20.54 17.54 - LU1741217027 - -
A2 EUR Accumulating 20.91 -0.07 -0.33 22.99 18.26 - LU0278457204 - -
A2 USD Accumulating 25.41 0.06 0.24 25.85 19.72 - LU0278470058 - -
A4 EUR Annual 12.81 -0.04 -0.31 14.75 11.71 - LU0478974834 - -
A3 USD Monthly 3.87 0.01 0.26 4.00 3.11 - LU0278470132 - -
A3 EUR Monthly 3.19 -0.01 -0.31 3.64 2.88 - LU0278457469 - -
D2 EUR Accumulating 22.34 -0.08 -0.36 24.44 19.42 - LU0329592702 - -
D3 USD Monthly 16.02 0.04 0.25 16.53 12.88 - LU0523291242 - -
D5 GBP Quarterly 8.25 -0.03 -0.36 9.00 7.56 - LU1694209807 - -
I2 CHF - 24.12 -0.10 -0.41 26.06 20.62 - LU1781817694 - -
D3 EUR Monthly 13.19 -0.04 -0.30 15.07 11.92 - LU0827884924 - -
A6 USD Monthly 8.38 0.03 0.36 8.84 6.87 - LU1408528211 - -
D3 Hgd AUD Monthly 6.33 0.02 0.32 6.66 5.13 - LU0827884841 - -
C2 EUR Accumulating 17.56 -0.06 -0.34 19.53 15.49 - LU0278457972 - -
C1 USD Daily 3.84 0.01 0.26 3.96 3.08 - LU0278478119 - -
D2 Hgd GBP Accumulating 15.10 0.03 0.20 15.36 11.78 - LU0827885491 - -
D3 HKD Monthly 124.20 0.30 0.24 128.46 99.87 - LU0827885061 - -
D2 Hgd SGD Accumulating 9.15 0.02 0.22 9.31 7.10 - LU0827884767 - -
D4 EUR Annual 12.85 -0.04 -0.31 14.80 11.76 - LU0827885145 - -
A6 Hgd GBP Monthly 7.68 0.02 0.26 8.28 6.37 - LU1408528302 - -
E2 USD Accumulating 23.70 0.06 0.25 24.12 18.46 - LU0374975414 - -
E2 EUR Accumulating 19.50 -0.07 -0.36 21.54 17.09 - LU0278459671 - -
I2 USD Accumulating 27.23 0.07 0.26 27.69 21.01 - LU0520955575 - -
I2 Hgd EUR Accumulating 8.31 0.02 0.24 8.45 6.50 - LU0473186707 - -
D2 Hgd PLN Accumulating 10.71 0.03 0.28 10.90 8.34 - LU0827884684 - -
A3 Hgd AUD Monthly 6.33 0.02 0.32 6.66 5.13 - LU0575500318 - -
Class AI2 EUR - 10.11 -0.04 -0.39 11.11 8.83 - LU1960220587 - -
E2 Hgd EUR Accumulating 7.42 0.02 0.27 7.55 5.85 - LU0474536231 - -
A8 Hgd NZD Monthly 8.32 0.02 0.24 8.88 6.84 - LU1408528724 - -
Class X5 Hedged GBP Quarterly 9.71 0.02 0.21 10.24 7.83 - LU1954752702 - -
A2 CZK Accumulating 545.74 -2.21 -0.40 573.35 507.04 - LU1791177113 - -
A2 Hgd CHF Accumulating 7.64 0.02 0.26 7.78 6.01 - LU0623004180 - -
X2 EUR Accumulating 6.35 -0.03 -0.47 6.91 5.49 - LU0531082021 - -
X2 USD Accumulating 7.72 0.02 0.26 7.85 5.93 - LU0344905624 - -
A6 Hgd HKD Monthly 83.30 0.20 0.24 88.07 68.40 - LU1408528484 - -
A2 Hgd PLN Accumulating 10.27 0.02 0.20 10.46 8.04 - LU0480535052 - -
D4 USD Annual 15.61 0.04 0.26 16.15 12.70 - LU0827885228 - -
A6 Hgd CAD Monthly 8.19 0.02 0.24 8.77 6.78 - LU1408528641 - -

Portfolio Managers

Portfolio Managers

Sergio Trigo Paz
Managing Director, Head of BlackRock's Emerging Markets Fixed Income

Sergio Trigo Paz, Managing Director, is Head of BlackRock's Emerging Markets Fixed Income.

Laurent Develay
Managing Director, Head of Emerging Markets Local Debt Investments

Laurent Develay, Managing Director, Head of Emerging Markets Local Debt Investments within BlackRock's Global Fixed Income Group.

Michal Wozniak, CFA
Vice President, Portfolio Manager for Emerging Markets Debt Portfolio Management team

Michal Wozniak, CFA, Director, is a Portfolio Manager for Emerging Markets Debt Portfolio Management team for Blackrock Global Fixed Income Group.

Literature

Literature